Mikael Bratt on guidance
From Investor Day I Autoliv 2023 · · Autoliv
“We have reconfirmed our guidance for this year across the board — a strong organic growth, we're talking about 15 on top of light vehicle production growth of around three percent.”
On , Mikael Bratt, Member of Research Advisory Board, President, Chief Executive Officer & Director at AUTOLIV INC, spoke about guidance during Investor Day I Autoliv 2023 on Autoliv.
About Mikael Bratt
Mikael Bratt, President and CEO of Autoliv, has spoken at multiple company events between 2020 and 2024 about the company's strategy, financial targets, and road safety initiatives. At Autoliv's 2024 Supplier Conference, Bratt stated that the company expects an annual average growth of around 2% and noted that Autoliv reached an indicated market share of approximately 45%, with an ambition to defend that share. During the 2023 Investor Day, Bratt said Autoliv had reconfirmed its guidance for strong organic growth of 15% on top of light vehicle production growth of around 3%, and discussed a target adjusted operating margin of around 12%, cash conversion of 80% or higher, and a leverage ratio of one time over time. He also described structural cost reductions involving 2,000 positions in the indirect workforce and 6,000 in the blue-collar environment, and stated that the company had returned more than one billion US dollars to shareholders over the previous five years through dividends and buybacks. Bratt has also emphasized Autoliv's focus on road safety and sustainability. In a 2023 statement supporting the U.N. Road Safety Fund, he said that financing the fund is important for large transformative projects in low- and middle-income countries and that Autoliv is aligned with the fund's priorities. During a 2020 keynote, Bratt stated that Autoliv's products save over 30,000 lives per year and prevent ten times as many injuries, with a goal to increase lives saved to 100,000 per year. He called for cooperation among decision makers, authorities, and the automotive industry to improve safety for vulnerable road users, and noted that Autoliv files approximately 200 patents per year. In response to the COVID-19 pandemic in early 2020, Bratt described actions including adjusting production, reducing investments, furloughing personnel, and drawing $1.5 billion from a revolving credit facility to secure liquidity.